Understanding KYC

As part of Prevention of Money Laundering Act (PMLA), all
Mutual Funds are required to comply with the “Know Your
Customer” guidelines. These guidelines enlist steps to ensure
all their investors receive due diligence. A systemised process
put in place on the request of Association of Mutual Fund Industry (AMFI) and Mutual
Funds. This process intends to keep investors away from the
hassle of producing the proof documents to all the funds at the
time of investment.

This means that all investors have to be KYC compliant to invest in Mutual
Funds.

An investor can apply for KYC under any of the
following categories and sub-categories (based on the Mutual Fund investor
categories):

In line with SEBI circular No.
MIRSD/Cir-5/2012 dated April 13, 2012
and various other guidelines issued by
SEBI on the procedural matters for KYC
Compliances, the Investors are requested
to note the following additional
provisions shall be applicable for “KYC
Compliances” with effect from December
1, 2012:

In case of an existing investor of Canara Robeco Mutual Fund and who is already
KYC Compliant under the erstwhile centralized KYC, then there will be no effect on subsequent purchase/Additional Purchase (or ongoing
SIPs/STPs,etc) in the existing folios/accounts which are KYC compliant. Existing
Folio holder cannot open a new folio with Canara Robeco Mutual Fund with the
erstwhile centralized KYC.

2) In case of an existing investor of Canara Robeco Mutual Fund and who is not
KYC Compliant as per our records, the investor will have to submit the standard
KYC Application forms available in the website along with supporting documents at any of the SEBI registered intermediaries at the time of
purchase / additional purchase/ new registration of SIP/STP etc. In Person
Verification (IPV) will be mandatory at the time of KYC Submission. This uniform
KYC submission would a onetime submission of documentation.

3) Investors who have complied with KYC process before December 31, 2011 (KYC
status as “MF - VERIFIED”) and not invested in the schemes of Canarar Robeco Mutual Fund i.e not opened a folio earlier, and wishes to
invest on or after December 01, 2012, such investors will be required to submit
‘missing/not available’ KYC information and complete the IPV requirements.
Updation of ‘missing / not available’ KYC information along with IPV is
currently a one-time requirement and needs to be completed with any one of the
mutual funds i.e. need not be done with all the mutual funds where investors
have existing investments. Once the same is done then the KYC status will change to ‘Verified’ after due verification. In such a scenario,
where the KYC status changes to ‘Verified’, investors need not submit
the ‘missing/not available’ KYC information to mutual funds again.

a) In case of Individual investors, following details needs to be submitted: